In a saucepan, combine the margarine (or butter), sugar, and molasses (or corn syrup.
Cook and stir over medium heat until the margarine is melted and sugar dissolves. Pour into a mixing bowl.
Stir in vanilla, then cool 5 minutes. Add the egg, mix well.
In a separate bowl, stir together the flour, baking soda, cinnamon, ginger, and cloves. Add the dry ingredients to the egg mixture, mix well.
Cover and chill 2 hours, or overnight.
Put a piece of waxed paper down in front of each child and give them each a chunk of gingerbread dough.
Roll or pat the dough down into a flat pancake about ⅜ in thick, then use cookie cutters to cut as many shapes out of the dough as will fit.
Peel the cookies off the waxed paper and placed on an ungreased cookie sheet.
Once on the cookie sheet, we used a drinking straw to make holes in the top of the cookies so we could add a ribbon and hang them. Place the holes at least ⅜ inch from the edge and centered on the top of the cookie.
Allow the cookies to cool on the cookie sheets.
Decorate the cooled cookies with white icing and red hots, or use your favorite icing colors and candy!
Thread string through the holes in the cookies, and tie into a loop. Hang on your Christmas tree and enjoy all season long!